The luxury car has entered into the seconds market penetratingly as BMW announced its product in addition to financial support. Currently BMW has 40% luxury market with its sales crossing 3619 units last year. The seconds dealing by BMW will be an organized one- selling, financing and liaison with buyer and dealer. The company’s MD for India said that the avenue is for those who desire to own a BMW.
Another luxury car maker Mercedes is also chalking out its plans for seconds in this segment. The deal will have a separate platform in another 6 months in addition to the ones in Mumbai and Hyderabad. The business is, however, not up to the mark. Out of the required investment of RS6 crore for this market, the dealers are pouring Rs2 crore to run the show. The dealers in this used car segment welcome such entry by own companies. Audi too will soon follow the suit in this regard.